Janney Montgomery Scott LLC Raises Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Janney Montgomery Scott LLC increased its stake in Occidental Petroleum Co. (NYSE:OXY) by 4.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 94,723 shares of the oil and gas producer’s stock after buying an additional 3,943 shares during the period. Janney Montgomery Scott LLC’s holdings in Occidental Petroleum were worth $4,763,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Global Trust Asset Management LLC boosted its holdings in Occidental Petroleum by 2,725.6% in the second quarter. Global Trust Asset Management LLC now owns 12,122 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 11,693 shares during the last quarter. Harvest Group Wealth Management LLC purchased a new position in shares of Occidental Petroleum during the 1st quarter worth $34,000. Hanson McClain Inc. boosted its stake in shares of Occidental Petroleum by 77.9% during the 2nd quarter. Hanson McClain Inc. now owns 902 shares of the oil and gas producer’s stock worth $45,000 after acquiring an additional 395 shares during the last quarter. Cornerstone Advisors Inc. boosted its stake in shares of Occidental Petroleum by 110.9% during the 1st quarter. Cornerstone Advisors Inc. now owns 694 shares of the oil and gas producer’s stock worth $46,000 after acquiring an additional 365 shares during the last quarter. Finally, Meridian Wealth Management LLC purchased a new position in shares of Occidental Petroleum during the 1st quarter worth $46,000. Institutional investors own 81.12% of the company’s stock.

Several research analysts have recently weighed in on OXY shares. Wolfe Research cut shares of Occidental Petroleum from an “outperform” rating to a “peer perform” rating and dropped their price target for the stock from $85.00 to $65.00 in a research note on Monday, May 13th. Zacks Investment Research cut shares of Occidental Petroleum from a “buy” rating to a “hold” rating in a research note on Thursday, April 18th. ValuEngine cut shares of Occidental Petroleum from a “sell” rating to a “strong sell” rating in a research note on Tuesday, April 30th. Royal Bank of Canada lifted their price target on shares of Occidental Petroleum to $76.00 in a research note on Tuesday, May 7th. Finally, Raymond James set a $80.00 price target on shares of Occidental Petroleum and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $71.95.



In other news, CFO Cedric W. Burgher acquired 4,100 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were purchased at an average cost of $49.61 per share, for a total transaction of $203,401.00. Following the transaction, the chief financial officer now directly owns 76,842 shares of the company’s stock, valued at $3,812,131.62. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Vicki A. Hollub acquired 37,460 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were purchased at an average price of $48.15 per share, for a total transaction of $1,803,699.00. Following the completion of the transaction, the insider now directly owns 248,326 shares in the company, valued at $11,956,896.90. The disclosure for this purchase can be found here. Insiders have bought a total of 100,660 shares of company stock worth $4,871,951 over the last 90 days. Insiders own 0.15% of the company’s stock.

Shares of OXY stock opened at $43.67 on Wednesday. The company has a market cap of $35.27 billion, a P/E ratio of 8.70, a price-to-earnings-growth ratio of 2.78 and a beta of 0.82. Occidental Petroleum Co. has a one year low of $44.01 and a one year high of $83.35. The company’s fifty day moving average price is $50.07. The company has a quick ratio of 1.00, a current ratio of 1.20 and a debt-to-equity ratio of 0.50.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $0.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.06. The firm had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.39 billion. Occidental Petroleum had a net margin of 19.65% and a return on equity of 17.06%. The company’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm earned $1.10 EPS. As a group, equities analysts expect that Occidental Petroleum Co. will post 3.4 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 7.24%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.78. The ex-dividend date is Monday, September 9th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 62.28%.

About Occidental Petroleum

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.

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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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